Standard Chartered has partnered with Truera to help mitigate bias in AI.
The bank uses AI and data analytics widely across its business.
However it says it’s aware of unjust biases in decision making and insists data must be used more ethically.
Truera is a model intelligence platform that helps businesses analyse and improve machine learning.
What does this mean?
So far, the pilot by Standard Chartered and Truera has focused on credit decision making which uses various kinds of data. Credit decisions have long been a focus of AI solutions as there is need for a more thorough system that takes more information about an individual into account – but there’s a concern this will still lead to biased decisions.